Tiffany's Slump Presents Buy Opportunity

| About: Tiffany & (TIF)

The 14% decline in Tiffany's (NYSE:TIF) over six consecutive days of down days for the stock from July 20th to July 27th is a great opportunity for investors to get in on this name.

Demand for high-end jewelry seems to know no bounds and the decline in TIF was not induced by bad news, rather it was based on the general fear that the US economy is not doing well and the mortgage default issues would have a negative effect on the retailer. But people need to understand that demand for products from retailers like Nordstrom (NYSE:JWN) and Tiffany (TIF) is relatively inelastic since their customers are high-end consumers.

TIF 1-yr chart: